Reverse Auctions & Australia’s Energy Future Part 1
A two-part webinar series on the role of procurement processes in Australia’s low carbon energy future and the emerging hydrogen industry.
Reverse Auctions — a dynamic procurement process whereby several sellers offer goods or services to one buyer — are emerging as a powerful tool for Australia’s energy resources and renewable energy industries.
Used frequently internationally, this style of competitive reverse tendering is being utilised by some Australian Governments to help drive down costs and create local content supply chains. The ACT government have used the Reverse Auction process to achieve their commitment of a switch to 100 per cent renewable energy by 2020, and the process has also underpinned the construction of wind farms across Victoria, New South Wales and Victoria, along with three large-scale solar farms within the ACT.
However, despite its success internationally and in parts of Australia, Reverse Auctions are not currently commonly implemented across the rest of the country.
To explore their potential application for Australia’s energy sector and the potential benefits for local communities, NERA has collaborated with Simon Corbell, Chief Adviser at Energy Estate and former Deputy Chief Minister of the ACT, to present this two-part webinar that unpacks how Reverse Auctions work and explores how they can be used in Australia’s transition to a clean energy future and the emerging hydrogen industry.
Who should attend
- State government procurement representatives
- Private sector offtakers, investors and project developers
During this webinar, Simon will outline the concept of Reverse Auctions and two key features of this process: Contracts for Difference (CfDs) and evaluation criteria (including requirements for local content). Simon will draw on examples from the use of these processes in wind and solar, including lessons learnt and how they can be used in other areas of Australia’s clean energy future, such as hydrogen.
Facilitated by NERA CEO Miranda Taylor, this one-hour webinar will feature:
• An introduction and background on the concepts of Reverse Auctions and Contract for Difference (CfDs)
• How the evaluation criteria is used for projects submitted through the Reverse Auctions process
• The ongoing benefits to community of local content requirements and community benefit sharing
• Lessons learnt from wind and solar Reverse Auctions
• The potential role of CfDs and Reverse Auctions in supporting hydrogen development
• Live Q&A